Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
The Perfect Wedding Scene with a Twist
In the image above, we witness a truly special moment, as a lovely couple comes together on their big day. The bride holds onto her partner, while the groom gazes lovingly into her eyes. It seems like a picture-perfect scene, right? But if you look closely, there’s a small tradition mishap that might catch your eye.
Did you notice it yet? The mistake lies in their positioning. According to tradition, the bride should be on the left side of the groom! It’s a little detail that might easily go unnoticed, but it adds an interesting twist to this delightful snapshot.
So, how quickly were you able to spot this charming puzzle? We’d love to hear from you in the comments below! Share your thoughts and don’t forget to spread the joy by sharing this post with your family and friends. For more amusing riddles and captivating stories, be sure to follow us on Facebook!
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